The Firm's Average Total Costs Will Be a Minimum at the Output

question 34

Multiple Choice

The firm's average total costs will be a minimum at the output level where the

• A) firm just begins to confront diminishing returns to the variable factors.
• B) marginal costs are a minimum.
• C) firm's average fixed costs are at their minimum.
• D) marginal cost curve crosses the firm's average total cost curve.

---

Definitions:

Non-Profit Organization

is an entity that operates for a collective, public, or social benefit rather than generating profits for owners or investors.

Professional Corporation

A type of corporate structure available to professionals like lawyers, doctors, and accountants, which offers certain legal and financial protections.

Sole Proprietorship

A type of business where a single individual owns, manages, and is responsible for all aspects of the business, including liabilities.

Non-Profit Organization

An organization dedicated to furthering a particular social cause or advocating for a shared point of interest, without aiming for profit.